The beginning of 2018 will bring with it a ban on betting on horse racing and slot machines, pursuant to recommendations made this summer by a committee for examining the legal gambling market in Israel. This morning, the Finance Committee of the Knesset approved the financial compensation to the English company GBI, making way for implementation of the ban.
Minister of Finance Moshe Kahlon said that "the move to stop horse racing and slot machines is one of values and morals that comes to the point of saving lives. It's state-sponsored gambling that has destroyed the lives of thousands of families in Israel every year." He added, "Stopping horse betting starting tomorrow will prevent the destruction of more families and save thousands of gamblers. As I have said in the past, horse betting is a tax for the poor and it's good that tomorrow ends this dubious chapter in the history of the State of Israel."